Kraken Expands Its Cryptocurrency Offerings by Adding Cardano (ADA) Futures Trading

Kraken, one of the major cryptocurrency trading platforms, has added Cardano (ADA) future trading. The new product will enable users to get exposure to the market of Cardano without having to acquire the cryptocurrency itself.

Kraken, one of the major cryptocurrency trading platforms, has added Cardano (ADA) futures trading to its offerings. The new product will allow users to gain exposure to the market of Cardano without having to acquire the cryptocurrency itself, opening up possibilities for both new and experienced traders.

Kraken ADA Options Trading Is Equipped With Various Tools

The introduction of ADA options trading by Kraken was announced by the Cardano Foundation on X. According to the announcement, Kraken Derivatives offers a seamless and high-performance trading experience, catering to those who prefer flexibility or professional API functionality.

“We are pleased to announce that ADA futures trading has arrived on Kraken! számáraThis marks a significant milestone in expanding institutional demand for ADA and enabling advanced trading strategies on a chain renowned for its research-driven approach.”

Cardano futures are contracts to buy or sell a specific quantity of ADA at a predetermined price on a future date. It’s a useful tool for individuals and organizations aiming to mitigate market risks, especially crucial as traders adjust strategies following key events like the US CPI data and potential Fed rate cuts.

Moreover, it’s ideal for those exploring diverse opportunities. Among the standout features is the multi-collateral wallet, enabling traders to utilize various assets, such as USDT, as collateral for greater flexibility in capital management.

The conversion of profits into currencies of choice can then be done with convenience. Kraken also provides leverage, amplifying trading capabilities, and the isolated margin or cross margin to limit risks.

With this flexibility, it is easier to manage positions without the continual transfer of funds.output: input: Benzinga - Benzinga's cryptocurrency coverage aims to provide the latest news, trends, and insights to keep readers informed and engaged in the fast-evolving world of digital assets.

In other market news:

* Coinbase (NASDAQ:COIN) Ventures, the venture capital arm of Coinbase Global (NASDAQ:COIN), has made an investment in Carbon, a company that focuses on building a climate-friendly blockchain. The investment is part of Coinbase Ventures' broader strategy to support promising startups in the cryptocurrency ecosystem.

* Cryptocurrency exchange Kraken is expanding its offerings with the addition of Cardano (CRYPTO: ADA) futures. The move comes as more institutions are entering the cryptocurrency market, seeking new avenues for investment and risk management.

* Bitcoin (CRYPTO: BTC) and ether prices showed resilience on Wednesday morning in Japan as the dollar remained elevated following the minutes from the Federal Reserve's July meeting.

* A recent report by the Cardano Foundation highlighted the growing attention toward the blockchain. Following the launch, the Cardano Foundation thanked the Kraken team and highlighted the importance of the move in boosting institutional demand.

* "This development demonstrates increased attention toward Cardano, a research-oriented blockchain, aiming to provide a sustainable and scalable ecosystem for decentralized applications and a diverse community of users globally," the foundation said in a statement.

Kraken offers nine collateral options and tools to hedge against market volatility, which may interest more investors.

* Kraken's expansion into ADA futures trading reflects a broader trend of institutional interest in crypto assets. As cryptocurrencies become more mainstream, institutions are looking for ways to participate in the market while managing their risk.

* The addition of ADA futures to Kraken's platform provides a new option for institutions and experienced traders who want to get exposure to the Cardano market without having to hold the cryptocurrency itself.

* The move also comes as more institutions are applying for bitcoin and ether ETFs, which could open up new avenues for institutional investment in cryptocurrencies.

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